Personal Loan Balance Transfer to Axis Bank

Posted On March 15, 2019 by user

Availing personal loan helps in meeting any immediate financial need. But most of the time, you end up taking personal loan from bank with higher rate of interest. To lower your interest rate, you can opt for personal loan balance transfer.

Using personal loan balance transfer, you can transfer your outstanding balance amount from one bank to another.

No security or mortgage is required to keep for personal loan balance transfer to Axis Bank.

Lower EMI payment for personal loan balance transfer to Axis Bank.

Axis Bank Personal Loan Balance Transfer Online

In order to reduce your personal loan liability, you can opt for personal loan balance transfer to Axis Bank. This will help you to reduce the interest rate. After the personal loan balance transfer to Axis Bank, you can pay a lower EMI with extended loan repayment tenure.

Eligibility for Personal Loan Balance Transfer To Axis Bank

Age– 21 to 60 years

Employment– Salaried or Self-employed individual.

Income- Rs. 25,000

Status of Employment– Minimum of 2 years experience with no break in the salary credits

Amount of loan to be transferred– Rs. 50,000 (minimum)

Credit Score– 750 or above

No delayed Payments- There should be no delay in payments or bounces while repaying the loan.

If the existing bank offers an interest rate lower than 16%, then Axis Bank offers 1.5% lower interest rate with the external financer rate (as subject to the ROI 14.5% which is minimum). In this case, the processing fee is 1.50%

If the prevailing bank offers interest rate higher than 16%, then Axis Bank offers 3% lower rate of interest with the external financer rate (as subject to the ROI 14.5% which is minimum). Here, 1.50% processing fee is charged

Benefits of Personal Loan Balance Transfer to Axis Bank

Here are some of the benefits of personal loan balance transfer to Axis Bank-

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